Cessna: No Plan To Resurrect Citation Columbus

Business Jet Traveler » October 2009
Thursday, October 1, 2009 - 5:00am

Cessna Aircraft is moving on after parent Textron formally canceled the large-cabin Cessna Citation Columbus program. The decision came a little more than two months after Textron suspended development of the widebody jet due to the economic downturn. Textron reported a net loss of $58 million in the second quarter, compared with a $258 million profit in the year-ago period. Revenues were $2.6 billion, down 29 percent from the second quarter of last year.

The company also lowered its revenue forecast for this year from $11 billion to $10.6 billion, mainly because of further reductions in the Cessna Citation production rate, charges to downsize Cessna's workforce and one-time costs to cancel the Columbus.

Share this...

Add your comment:

By submitting a comment, you are allowing AIN Publications to edit and use your comment in all media.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
 

Quote/Unquote

““When I made the film The Invention of Lying, they gave me a private jet for getting back and forth between New York and London. I thought, ‘I will never use it’ but I ended up using it every weekend. You turn up, right, and the airport is completely empty. I mean, there’s just someone at the desk and then the pilot, who says, ‘Are you ready to go?’ and you say, ‘Don’t you want to see my passport?’ and he goes, ‘Oh yeah, I suppose I’d better.’” ”

-—actor and comedian Ricky Gervais